2017-07 Police Officers Pension FundRESOLUTION NO. 2017-07
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
OKEECHOBEE, FLORIDA; APPROVING AND ADOPTING A MUTUAL
CONSENT AGREEMENT WITH THE CITY OF OKEECHOBEE
MUNICIPAL POLICE OFFICERS PENSION FUND BOARD OF
TRUSTEES FOR SHARING OF STATE OF FLORIDA CASUALTY
INSURANCE LOCAL PREMIUM TAX FUNDS AND CURRENT
RESERVE AMOUNTS; PROVIDING FOR AMENDMENTS THERETO;
PROVIDING FOR CONFLICT; PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, as provided by Florida Statute, the allocation of the annual State of Florida Casualty Insurance
Local Premium Tax funds as well as current: reserve amounts held by the City of Okeechobee are
subject to negotiation and agreement between the City and the City of Okeechobee Municipal
Police Officers Pension Board of Trustees; and
WHEREAS, the applicable Statutes provide for a default method of sharing such funds in the event the City
of Okeechobee and City of Okeechobee Municipal Police Officers Pension Board of Trustees are
unable to otherwise come to an agreement; and
WHEREAS, Florida Statute 185.35 sets out the default methodology, in which case the shared funds are
allocated in a 50/50 arrangement between the parties; and
WHEREAS, the City of Okeechobee Municipal Police Officers Pension Fund Board of Trustees submitted a
mutual consent agreement in which it is proposed that State of Florida Casualty Insurance Local
Premium Tax funds and current reserve amounts, as well as the use of future State of Florida
Casualty Insurance Local Premium Tax funds will be allocation via the default method as provided
in Florida Statutes 185.35 on a 50/50 basis effective for the share plan allocation on October 1,
2015, and each annual allocation thereafter, unless amended by further agreement.
NOW, THEREFORE, be it resolved before the City Council for the City of Okeechobee, Florida; presented
at a duly advertised public meeting; and passed by majority vote of the City Council; and properly
executed by the Mayor or designee, as Chief Presiding Officer for the City:
SECTION 1: The City Council for the City of Okeechobee, Florida hereby resolves and agrees to the
described methodology for allocation of State of Florida Casualty Insurance Local
Premium Tax funds and current reserves as set out herein, subject to amendment by
further agreement between the City and the City of Okeechobee Municipal Police Officers
Pension Fund Board of Trustees.
SECTION 2: Conflict. All Resolution or parts of Resolutions in conflict herewith are hereby repealed.
SECTION 3: Severability. If any section, subsection, sentence, clause, phrase or portion of this
Resolution, or application hereof, is for any reason held invalid or unconstitutional by any
court of competent jurisdiction, such portion or provision and such holding shall not affect
the validity of the remaining portions or applications here.
SECTION 4: Effective Date. This Resolution shall take effect on October 1, 2015.
INTRODUCED AND ADOPTED in Regular Session this 20th day of June, 2017.
ATTEST:
Lane Gamiotea, CMC, City Clerk
REVIEWED FOR LEGAL SUFF CIENCY:
John R. Cook, City Attorney
RESOLUTION No. 2017 -07 PAGE 1 OF 1
owling R. Wa ord, Jr., Mayor